The World Bank has approved $1.5 billion in financing for India's low-carbon energy development, specifically targeting the production of green hydrogen and electrolysers. This funding is part of the second 'Low-Carbon Energy Programmatic Development Policy Operation' aimed at accelerating India's transition to a more sustainable energy landscape. The reforms supported by this operation are projected to facilitate the production of 450,000 metric tonnes of green hydrogen and 1,500 MW of electrolysers annually starting from FY25/26, while also aiding in reducing emissions by 50 million tonnes per year. Aligned with India's energy security goals and the World Bank's Hydrogen for Development Partnership, the operation underscores the importance of boosting private investment in green hydrogen and renewable energy to achieve the country's net-zero target. The World Bank's Country Director for India expressed satisfaction in supporting India's low-carbon development strategy, emphasizing the creation of clean energy jobs in the private sector. India's robust actions to establish a domestic green hydrogen market, supported by a growing renewable energy capacity, are essential for decoupling economic growth from emissions growth, particularly in challenging industrial sectors. The previous $1.5 billion operation approved in June 2023 focused on measures like waiving transmission charges for renewable energy in green hydrogen projects, setting a clear path for renewable energy tenders, and establishing a legal framework for a national carbon credit market.